Virginia Power Fuel Securitization LLC

11/02/2026 | Press release | Distributed by Public on 11/02/2026 10:01

Asset-Backed Issuer Distribution Report (Form 10-D)

SEMI-ANNUAL SERVICER'S CERTIFICATE

Virginia Power Fuel Securitization, LLC

2024 Senior Secured Deferred Fuel Cost Bonds

Pursuant to Section 4.01(c)(ii) of the Deferred Fuel Cost Property Servicing Agreement, dated as of February 14, 2024 (the "Servicing Agreement"), by and between Virginia Electric and Power Company, as servicer (the "Servicer"), and Virginia Power Fuel Securitization, LLC and acknowledged and accepted by U.S. Bank Trust Company, National Association, not in its individual capacity, but solely in its capacity as indenture trustee (the "Indenture Trustee"), the Servicer does hereby certify, for the November 2, 2026 Payment Date (the "Current Payment Date"), as follows:

Capitalized terms used but not defined herein have their respective meanings as set forth in the Servicing Agreement. References herein to certain sections and subsections are references to the respective sections of the Servicing Agreement or the Indenture, as the context indicates.

Collection Periods: May 2026 to October 2026

Payment Date: November 2, 2026

1. Collections Allocable and Aggregate Amounts Available for the Current Payment Date:

i.
Remittances for the May 2026 Collection Period

$15,873,990

ii.
Remittances for the June 2026 Collection Period

$15,413,862

iii.
Remittances for the July 2026 Collection Period

$17,517,296

iv.
Remittances for the August 2026 Collection Period

$21,555,654

v.
Remittances for the September 2026 Collection Period

$20,125,742

vi.
Remittances for the October 2026 Collection Period

$20,706,113

vii.
Investment Earnings on Capital Subaccount1

$104,182

viii.
Investment Earnings on Excess Funds Subaccount1

$145,536

ix.
Investment Earnings on General Subaccount1

$806,169

x.
General Subaccount Balance (sum of i through ix above)

$112,248,544

xi.
Excess Funds Subaccount Balance as of prior Payment Date

$6,189,567

xii.
Capital Subaccount Balance as of prior Payment Date

$6,409,500

1 Includes interest recorded April 1, 2026 through September 30, 2026.

2. Outstanding Amounts as of prior Payment Date:

i.
Deferred Fuel Cost Series A Tranche A-1 Outstanding Amount

$126,754,967

ii.
Deferred Fuel Cost Series A Tranche A-2 Outstanding Amount

$842,600,000

iii.
Aggregate Outstanding Amount of Deferred Fuel Cost Bonds

$969,354,967

3. Required Funding/Payments as of Current Payment Date:

Principal

Principal Due

i.
Deferred Fuel Cost Series A Tranche A-1 Outstanding Amount

$86,689,580

ii.
Deferred Fuel Cost Series A Tranche A-2 Outstanding Amount

$-

iii.
All Deferred Fuel Cost Bonds

$86,689,580

Interest

Tranche/Class

Interest Rate

Days in Interest Period1

Principal Balance

Interest Due

i.
Deferred Fuel Cost Series A Tranche A-1 Outstanding Amount

5.088%

180

$126,754,967

$3,224,646

ii.
Deferred Fuel Cost Series A Tranche A-2 Outstanding Amount

4.877%

180

$842,600,000

$20,546,801

iii.
All Deferred Fuel Cost Bonds

$23,771,447

Required Level

Funding Required

xiii.
Capital Subaccount

$6,409,500

$-

4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e) of Indenture:

i.
Trustee Fees and ExpensesÍž Indemnity Amounts

$-

ii.
Servicing Fee

$320,475

iii.
Administration Fee

$50,000

iv.
Operating Expenses

$660

Deferred Fuel Cost Bonds

Aggregate

Per $1,000 of

Original Principal Amount

v.
Semi-Annual Interest (including any past due for prior periods)

$23,771,447

1.
Deferred Fuel Cost Series A Tranche A-1 Outstanding Amount

$3,224,646

$7.34

2.
Deferred Fuel Cost Series A Tranche A-2 Outstanding Amount

$20,546,801

$24.39

vi.
Principal Due and Payable as a Result of an Event of Default or on Final Maturity Date

$-

1.
Deferred Fuel Cost Series A Tranche A-1 Outstanding Amount

$-

$-

2.
Deferred Fuel Cost Series A Tranche A-2 Outstanding Amount

$-

$-

vii.
Semi-Annual Principal

$86,689,580

1.
Deferred Fuel Cost Series A Tranche A-1 Outstanding Amount

$86,689,580

$197.34

2.
Deferred Fuel Cost Series A Tranche A-2 Outstanding Amount

$-

$-

viii.
Other unpaid Operating Expenses

$124,878

ix.
Funding of Capital Subaccount (to required level)

$-

x.
Capital Subaccount Return to VEPCO

$157,580

xi.
Deposit to Excess Funds Subaccount

$1,133,924

xii.
Release to Issuer Upon Retirement of all Deferred Fuel Cost Bonds and Expenses

$-

xiii.
Aggregate Remittances as of Current Payment Date

$112,248,544

1 On 30/360 day basis for initial payment date; otherwise use one-half of annual rate.

5. Outstanding Amount and Collection Account Balance as of Current Payment Date (After giving effect to payments to be made on such Payment Date):

i.
Deferred Fuel Cost Series A Tranche A-1 Outstanding Amount

$40,065,387

ii.
Deferred Fuel Cost Series A Tranche A-2 Outstanding Amount

$842,600,000

iii.
Aggregate Outstanding Amount of all Deferred Fuel Cost Bonds

$882,665,387

iv.
Excess Funds Subaccount Balance

$7,323,491

v.
Capital Subaccount Balance

$6,409,500

vi.
Aggregate Collection Account Balance

$13,732,991

6. Subaccount Withdrawals as of Current Payment Date (if applicable, pursuant to Section 8.02(f) of Indenture):

i.
Excess Funds Subaccount

$-

ii.
Capital Subaccount

$-

iii.
Total Withdrawals

$-

7. Shortfalls in Interest and Principal Payments as of Current Payment Date:

i.
Semi-annual Interest

Deferred Fuel Cost Series A Tranche A-1 Outstanding Amount

$-

Deferred Fuel Cost Series A Tranche A-2 Outstanding Amount

$-

Total

$-

ii.
Semi-annual Principal

Deferred Fuel Cost Series A Tranche A-1 Outstanding Amount

$-

Deferred Fuel Cost Series A Tranche A-2 Outstanding Amount

$-

Total

$-

8. Shortfalls in Payment of Return on Invested Capital as of Current Payment Date:

i.
Return on Invested Capital

$-

9. Shortfalls in Required Subaccount Levels as of Current Payment Date:

i.
Capital Subaccount

$-

IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Semi-Annual Servicer's Certificate this 26th day of October 2026.

Virginia Electric and Power Company, as Servicer

By:

/s/ John Ingram

Name:

John Ingram

Title:

Controller

CC: Virginia Power Fuel Securitization, LLC

Virginia Power Fuel Securitization LLC published this content on November 02, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on November 02, 2026 at 16:01 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]